PROVIDENCE — Democratic candidate for treasurer Seth Magaziner is calling for restoration of the historic preservation tax credit, increased emphasis on infrastructure projects and greater public disclosure on state investments in his new plan for economic growth.

In a new five-part plan, Magaziner proposes a number of changes that he says won’t require new state funding as he will look to private sector financing to help pay for projects. He’s suggested creating a state infrastructure bank as a low-cost financing alternative for municipalities.

“The treasurer’s office can be a catalyst for economic growth,” Magaziner said. “I want to reinvent the way the office works.”

Magaziner will face former state treasurer Frank T. Caprio in the Democratic primary.

Magaziner, vice president of Boston investment firm Trillium Asset Management, also said changes are needed in the state’s historic preservation tax credit program. The state suspended the program in 2008. A newly refreshed version of the program authorized last year capped tax breaks at $5 million per development project — a cap that some including developers of the so-called Superman building said was too limiting. The credits were distributed through a lottery system.

While Governor Chafee’s proposed $52 million in funding for the program was shot down by the General Assembly, Magaziner said he believes the outcome could have been different with a different structure for the program.

“We’ve made mistakes. In the past we’ve done it by lottery, and that doesn’t take into account economics and social benefits the way we should when we look at these developments,” Magaziner said. “The other part is recognizing that we need to restore public trust in where the dollars are being spent.”

On the subject of the pension system, Magaziner said the state should be required to disclose more information about its investments, referencing a decision by current General Treasurer Gina Raimondo to not release documents to The Providence Journal that preceded the state’s decision to invest in three hedge funds. The hedge funds objected to the release of information, arguing it included trade secrets and proprietary information.

Basic information including how much money has gone into and out of the fund and what are the underlying investments must be public, Magaziner said.

Magaziner’s plan also calls for creating a “Rhode Island Venture Pool” to support high-tech start-up companies as part of a plan for overall investment in the state’s small business economy.

Asked how such a program would ensure the state would not end up dealing with the remnants of another failed investment such as that of the 38 Studios video-game company, Magaziner pointed in part to oversight from private sector experts.

“I really want to make sure that it is private sector experts making the decisions, not politicians,” Magaziner said.

He also said his proposal would require a match from private investors.

“With 38 Studios, they came to Rhode Island because they couldn’t raise enough money from the private sector, which should have set off alarm bells,” Magaziner said.